Polkadot recently closed yet another round of its parachain auction in which the winner was Polkadex who placed 973,324 DOTs in over 6,000 donations from community members, demonstrating the incredible community effort behind this victory.
Thus, Polkadot is an interoperable blockchain ecosystem that offers high levels of security, user-oriented governance, high energy efficiency and is readily built for rapid scalability.
So some of that scalability comes through their interoperable parachains, with many different blockchain systems tied to the central chain.
Thus, by winning the most recent parachain slots auction, Polkadex became the 16th chain to be merged into Polkadot.
Polkadex is built on substrate, providing an easy-to-use, decentralized order exchange where users can participate in high-frequency trading and other DeFi functions.
“Thanks to the Polkadex parachain, we will be able to connect assets with the Dotsama ecosystem and now users will be able to trade Polkadot ecosystem tokens from across the spectrum of parachains,” said Polkadex COO Deepansh Singh.
Thus, this crowdloan round saw Polkadex become the first parachain auction to surpass its 90% threshold of $1 million, making it the largest in Lot 3.
Part of what made this campaign so effective was the Polkadex rally within its own community, providing many benefits to users who decided to get involved with the funding opportunity.
Thus, Polkadex created an auction limit of 1 million DOT tokens, but offered 2 million PDEX tokens (which is 10% of the total supply).
So because of the ratio they created, there was a 2:1 opportunity, with users being able to get at least 2 PDEX tokens for every DOT token added to the campaign effort.
So, considering the vast utility of PDEX, allowing users to get discounts on any Polkadex transitions, reducing trading fees, providing governance voting, and even offering staking opportunities, it’s no wonder that the community has gone for this fantastic thing. crowdloan structure.
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